Thrivent Financial for Lutherans Acquires 315,424 Shares of TD SYNNEX Co. (NYSE:SNX)

Thrivent Financial for Lutherans boosted its position in TD SYNNEX Co. (NYSE:SNX - Free Report) by 560.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 371,747 shares of the business services provider's stock after purchasing an additional 315,424 shares during the quarter. Thrivent Financial for Lutherans owned about 0.44% of TD SYNNEX worth $44,639,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC acquired a new position in shares of TD SYNNEX in the third quarter valued at about $30,000. UMB Bank n.a. increased its stake in TD SYNNEX by 99.3% during the 3rd quarter. UMB Bank n.a. now owns 289 shares of the business services provider's stock worth $35,000 after acquiring an additional 144 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in TD SYNNEX during the 3rd quarter worth $37,000. Blue Trust Inc. increased its stake in TD SYNNEX by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 358 shares of the business services provider's stock worth $40,000 after acquiring an additional 123 shares during the period. Finally, Ashton Thomas Private Wealth LLC bought a new position in TD SYNNEX during the 2nd quarter worth $52,000. 84.00% of the stock is owned by institutional investors and hedge funds.

TD SYNNEX Stock Down 0.9 %

Shares of NYSE:SNX traded down $1.04 during mid-day trading on Tuesday, hitting $115.26. 162,132 shares of the company traded hands, compared to its average volume of 780,981. The company has a current ratio of 1.25, a quick ratio of 0.77 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $118.46 and a two-hundred day moving average price of $119.75. TD SYNNEX Co. has a 12-month low of $96.93 and a 12-month high of $133.85. The stock has a market cap of $9.81 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.17 and a beta of 1.48.

TD SYNNEX (NYSE:SNX - Get Free Report) last announced its quarterly earnings data on Thursday, September 26th. The business services provider reported $2.86 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.80 by $0.06. The business had revenue of $14.68 billion for the quarter, compared to analysts' expectations of $14.11 billion. TD SYNNEX had a return on equity of 12.15% and a net margin of 1.20%. The firm's quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.71 EPS. On average, equities research analysts forecast that TD SYNNEX Co. will post 11.03 earnings per share for the current year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, October 11th. TD SYNNEX's payout ratio is 20.70%.

Insider Transactions at TD SYNNEX

In related news, insider Dennis Polk sold 15,689 shares of the business's stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $116.93, for a total value of $1,834,514.77. Following the completion of the sale, the insider now owns 134,706 shares in the company, valued at $15,751,172.58. The trade was a 10.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Marshall Witt sold 5,653 shares of the business's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $121.15, for a total value of $684,860.95. Following the completion of the sale, the chief financial officer now owns 38,279 shares of the company's stock, valued at $4,637,500.85. The trade was a 12.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,645 shares of company stock valued at $8,414,329. 1.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on SNX. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $140.00 target price on shares of TD SYNNEX in a report on Friday, September 27th. Barclays raised their price objective on TD SYNNEX from $131.00 to $132.00 and gave the company an "equal weight" rating in a report on Friday, September 27th. Loop Capital reaffirmed a "buy" rating and set a $150.00 target price on shares of TD SYNNEX in a report on Monday, October 7th. StockNews.com raised TD SYNNEX from a "hold" rating to a "buy" rating in a report on Friday, August 16th. Finally, Barrington Research reissued an "outperform" rating and issued a $138.00 price objective on shares of TD SYNNEX in a research note on Monday, September 23rd. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $134.75.

TD SYNNEX Company Profile

TD SYNNEX Corporation operates as a distributor and solutions aggregator for the information technology (IT) ecosystem. The company offers personal computing devices and peripherals, mobile phones and accessories, printers, supplies, and endpoint technology software; and data center technologies, such as hybrid cloud, security, storage, networking, servers, technology software, and converged and hyper-converged infrastructure, as well as computing components.